For Sellers

TRESA Trust in Real Estate Safety Act- 2023

Sharing Contents

1. Sharing contents of offers will be permitted with the seller's written direction:

a) Potential situations in which a seller may want to share the contents of offers with their agent and buyer:
- When the seller wants their agent to negotiate directly with the buyer regarding specific terms or conditions in the offer.
- When there are multiple offers on the property, and the seller wants their agent to compare and analyze the terms in each offer.
- When the seller wants their agent to provide guidance or advice on which offer to accept based on the terms presented.

b) Examples of when this written direction may be necessary:
- If the seller wants their agent to disclose…

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For Buyers

Title: Navigating Potential Scenarios in Buyers Working with Agents and Sellers under the TRESA Real Estate Rules

The new TRESA Real Estate rules implemented by RECO bring about important changes in how buyers, sellers, and agents interact during real estate transactions. This document aims to provide comprehensive and informative guidance on potential scenarios that buyers may encounter when working with their agent and seller. Two key areas of focus will be explored: sharing contents of offers with seller's written direction and adjustments to information and disclosure obligations to promote clarity in communication. Real-life examples and case studies will be integrated throughout to enhance understanding and offer…

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